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Hello everyone...
Just got caught up on all the board activity today.
First... Brian, thank you for being the moderator. I felt you did a good job and I was disappointed to see what has occurred.
Second... I think there are a lot of longs that believed in the transparency of EFGO... and from what I can tell, that has changed. It is a tangled web with a lot of connections with a lot of familiar names. Not surprised to see the connections because blood is thicker than water (Miro Miro on the wall...) Curious to see how it plays out.
Third... I'm still holding my shares and hoping that the China deal will be a success and our waiting will have paid off. Lots of other past plans and LOI have not gone forward, I'm hoping this one is successful. I guess we will know soon...
Have a good evening everyone. I'll be watching for PRs from EFGO this week just like everyone else.
Hi everyone...
It has been a while since I've posted, but I still own shares of EFGO and have been following all the recent developments lately.
Interesting to see some of the connections that have been suggested between several different entities and personnel.
I'm waiting to see how all of this plays out in the next month. I've waited this long... like many others on this board...
With regards to Ratso1 questioning the number of Cash Now outlets. I don't have an answer for you, but according to links on Yellowpages for the U.S. and Canada, and Google maps, there are a lot listed that seem to be connected to Cash Now. When I was doing research earlier this year, there were about 20 Cash Now outlets listed for Australia. I haven't called any of them to see if they are currently associated with Cash Now or are still in business, but the phone numbers are listed in case any one has some spare time....
Links...For the U.S. http://www.yellowpages.com/nationwide/name_search/cash-now?search_mode=all&search_terms=cash+now and for Canada http://www.yellowpages.ca/search/pv/1/cash+now/Canada
Good morning THA_MSGT,
A very simple way to check the status of a domain and status of a website is to type the name into your browser. You can also use whois to lookup information.
If you type in magellan1.com you will see that it is for sale by Espritfinancial group and parked at GoDaddy.
Prices of domains varies greatly. Like suggested by another poster, take a look on Google.
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I'm still here... I've been following the board, just don't post much anymore. Giving the company time to grow. Still holding 16 million. Have a great weekend.
Rig.... I assume it is your birthday this weekend? If so, Happy Birthday! Enjoy your time here before you head back overseas. Take care of yourself and best of luck to you.
This summer has just zipped by... finally got a break in the heat and now just dealing with the smoke from the wildfires.
You are right about Chang and it not being the end of the world. I'm very curious to see what they are developing in China. Definitely the right place at the right time with the right produts (Beijing Olympics, Check21 and ATMs).
Take care.
Hey Rig... glad to see you. I've been very busy lately, but I do read the board to keep up. I have been watching and waiting to see what develops and figured I would give the company time to complete the deals they have in the works.
I have not been posting much lately because I was getting tired of some of the posts on the board.
As many know, I felt that Chang was important to EFGO. I believe EFGO felt that way also because of the PRs they put out. I realize things change over time and it appears there were problems that developed (based on the posts on this board). I hope that EFGO keeps moving forward and we hear about some completed and signed contracts soon.
I was sorry to see Chud leave. I felt he was a big supporter. I understand people have different goals and need to make decisions that they feel are correct.
I'm glad to see many of the regulars are still around like MNM, Vanwilder, KA12 and many others.
I still hold a lot of shares and I'm looking forward to some good news soon. Take care.
Thanks for the link to the chart! I'm still here and looking forward to the future.
Hey MNM... I'm still here too. Just taking advantage of the nice summer weather and spending lots of time outside enjoying it. Hope you are doing well with your recovery. Like many others, waiting to hear developments from China.
Have a great evening!
I also got tired of some of the posts on the board so I've reduced my posting, but I do check the board often.
Take care!
Hi everyone, glad that some of you have found the links and information useful. I enjoy spending time trying to understand why companies target certain areas and markets. EFGO is certainly attempting to develop several revenue streams that are in the "hot financial markets"... like Forex, Check 21, Smart Cards, debit cards, ATMs, etc. Articles like the following continue to support the decision of EFGO to get involved with the Chinese financial institutions.
We know the 2008 Olympics will bring a lot of attention and visitors to China. Some people predict that China will become the world`s top tourism destination by 2014.
China to emerge world`s top tourism destination by 2014
Tue 03 Jul 2007 05:17:58 PM
China: China is expected to replace France as the world`s top tourism destination by the year 2014 on the back of the 2008 Olympics the country is hosting, the World Tourism Organisation said in a report. - China
China received 22 million foreign tourists in 2006, excluding arrivals from Hong Kong, Macau, and Taiwan , compared to a mere 300,000 in 1978, the report cited industry experts and analysts as saying.
With China enjoying double-digit expansion of tourist arrivals for years and tourism growth in France rather slow to pick up, industry watchers say China, originally expected to overtake France as the number one tourism destination in 2020, is now tipped to do so six years earlier, the report said.
China was on course to overtake the United States, the world`s number three tourist destination, this year in terms of foreign visitor arrivals, Xu Jing, the organisation`s Asia-Pacific representative, said. The Asian giant would then pass Spain, number two, by the end of the decade.
The Chinese capital is preparing to receive 500,000 overseas visitors during the 2008 Summer Games from August 8-24, 2008 , up from 350,000 visitors in August 2006. Other factors that are helping China to overtake France by 2014 include the 2010 Shanghai World Expo.
Those Olympic visitors are expected to spend about $5 billion, according to China`s tourist board. Foreign tour operators and airlines are expanding services to meet growing demand in Beijing and across the country. This year alone, China`s tourism industry is expected to generate $78 billion, 2.5 per cent of GDP, a figure that could rise to $277 billion by 2017, according to the World Tourism Organisation.
Revenues from the sector will be around $440 billion this year and up to $1.6 trillion by 2017, the World Tourism Organisation said.
Link: http://china.mconet.biz/index.php?action=fullnews&id=330970&category=1131&category_name=...
Hi KA,
Glad to see you posting again. I've been busy with work and haven't been posting much, but I still own my EFGO shares and like the connections that EFGO is making.
For those that wonder about the competition for Check 21 in China and the exposure that EFGO is getting just do a Google search on "check 21" china --- or ---- "check 21 china". I think you will see that EFGO shows up everywhere. I really don't see any other company as prominent. I realize that a lot of the search results are from the PRs that EFGO has put out, but I'm surprised that there aren't more companies that show up in the search results. That is why I feel EFGO is getting in on the ground floor in China with Check 21.
Hi everyone,
Lots of interest in the Chinese and the potential of getting in on the ground floor, especially with Check 21.
Just doing some research for the weekend and found an interesting article about the banking industry. It is on the Bank Technology News website and is dated August 2006. A little old but relevant.
The article is titled "Ten Technology Companies to Watch". The introduction states: "Now in its fifth year, BTN's top picks for hot technology companies to watch weave together an interesting mix of old guard and avant garde. With these companies' innovation spanning business intelligence, supply chain finance, branch transformation and security, the list provides insight into where the market is headed and why the right technology deals-vendor to vendor and bank to vendor-will become more important as market forces bear down on industry players. This year's group includes Oracle, PrimeRevenue, RSA Security, Diebold, IdenTrust, Wolters Kluwer, Trusted Network Technologies, Serverside, Xoom and NextSentry."
What I found interesting was that 3 of the top 5 companies were involved with China, and 1 company (Diebold) mentioned the importance of China, ATMs and Check 21.
I think that EFGO is in the right market at the right time and I'm very interested to see what they have in the works.
Here is the link to the article for those that are interested: http://www.banktechnews.com/article.html?id=200608011CV3G55G
Here is an interesting article that covers the new ATM machines, how Check 21 has had an influence and mentions Wachovia converting 34 of their Atlanta based ATMS to offer services in Chinese. Link: http://www.montereyherald.com/business/ci_6193210?nclick_check=1
Is EFGO in a good position? I think so.... Check 21, China, Wachovia, ATMs and Jack Chang running the division. Looking good to me so far.
Looking forward to the July 15th meeting with the Bank of Beijing.
From the June 25th PR "A follow-up meeting with the Bank of Beijing has been confirmed on July 15th, to begin implementing the pilot check 21 program as previously announced. It is anticipated that Esprit will begin seeing revenue from this endeavor early in the 3rd quarter."
About Bank of Beijing
Founded in January 1996, Bank of Beijing is a joint-stock commercial bank with a shareholding structure of overseas investors and numerous well-known enterprises. It has 125 sub-branches across Beijing and a business outlet in Tianjin. In 2005, Bank of Beijing’s introduced ING Group and IFC as its overseas strategic investors. In 2006, Bank of Beijing opened its branch in Tianjin, marking the significant step of trans-regional development. Its operational and management indicators have all reached international levels. In the Global Top 1,000 Banks List issued by The Banker in 2006, Bank of Beijing ranked 262 in terms of total assets, the highest among more than 110 domestic city commercial banks in China. The ranking means the bank has became a midsize international player in the banking industry.
***More info about Bank of Beijing***
Bank of Beijing is also joining IFC’s Global Trade Finance Program, both as a confirming bank and an issuing bank, and becomes the first city commercial bank in China to do so. By providing risk coverage for challenging trade transactions, the program will help Bank of Beijing expand its international trade finance business, especially with banks and customers in emerging markets, and as a result, further facilitate trade flows among developing countries.
About IFC
IFC, the private sector arm of the World Bank Group, promotes open and competitive markets in developing countries. IFC supports sustainable private sector companies and other partners in generating productive jobs and delivering basic services, so that people have opportunities to escape poverty and improve their lives. Through FY06, IFC Financial Products has committed more than $56 billion in funding for private sector investments and mobilized an additional $25 billion in syndications for 3,531 companies in 140 developing countries. IFC Advisory Services and donor partners have provided more than $1 billion in program support to build small enterprises, to accelerate private participation in infrastructure, to improve the business enabling environment, to increase access to finance, and to strengthen environmental and social sustainability. For more information, please visit www.ifc.org.
About the IFC Global Trade Finance Program
The IFC Global Trade Finance Program supports trade with the emerging markets worldwide. It aims to increase the developing countries’ share of global trade and promote South-South flows of goods and services. The $1 billion program provides guarantees and pre-export cash advances to banks in more than 60 countries. With its global mandate, the program plays a key role in advancing a worldwide network of bank partnerships to finance trade under risk coverage provided by IFC. For more information, visit www.ifc.org/gtfp.
Here is another article about the The Yin & Yang of U.S. Bank Interest in China. Great information about U.S. Banks interest in China Banks. Just think, EFGO is getting involved with the Chinese Banks and if it all works out, they will be in on the ground floor.
| SYNOPSIS | China is opening up its banking markets to foreign investors as a requirement of its membership in the World Trade Organization. The largest U.S. banks, in particular, are poised to pursue the opportunities in 2007, when ownership rules become more liberalized. Risks include the antiquated condition of China’s banking system, which today survives only with government support. Over time, China’s technological prowess is expected to positively influence U.S. bank growth and development, specifically in next-generation computing and telecommunications.
****Take a look at the complete article at the following link***
Link: http://www.bai.org/bankingstrategies/2006-nov-dec/YinandYang/
Great news today regarding the 3 banks. Makes sense to me that EFGO is getting involved with both Bank of Beijing and Wachovia. It looks to me that Wachovia serves as one of 3 intermediary banks for international remittance for Bank of Beijing.
Link: http://www.bankofbeijing.com.cn/en/ifs/remittance.asp
I also see that Bank of Beijing is expected to IPO in the 3rd quarter of 2007. Link: http://news.xinhuanet.com/english/2007-06/22/content_6277434.htm
The fact that EFGO is having discussions with these banks is very big and I can't wait to see what develops.
Jack Chang is moving EFGO into big things with Check 21, electronic money management and the international banking community.
I'm looking forward to what the future holds and every day brings more good news.
Congratulations Brian... I'm sure you will do a good job. I also think that Vanwilder is a good selection as assistant moderator, and congrats to Vanwilder too.
EFGO has so many things happening right now it is always interesting to me to see what they are working on. We need to realize that it has only been six months since Garr has been president and Jack Chang has only been on for 3 months. I think they have accomplished a great deal in a short amount of time.
Looking forward to watching EFGO continue to grow!
I suggest that Vanwilder be selected as an assistant moderator and then one of the assistants can be designated the moderator for the board. Vanwilder was a runner up in the last selection for an assistant moderator and I think he would do a good job.
Many thanks to MNM for being the last moderator. He did a great job and I hope the new moderator will continue keeping this a quality board.
Hi MNM, good to see you today! Hope you are doing well. Very good news this morning. I'm looking forward to watching EFGO grow in the future. They are sure working hard and continue to keep us informed. I'm glad to see they are sensitive to the business dealings with companies in other countries.
Take care and have a good day.
Great news this morning! We were waiting to hear some news from China and here it is this morning. It sounds like they will be spending some more time in China and it will be interesting to see if there are more announcements this week.
"The first meeting with a well known Chinese bank, with over 150 branches primarily in the Beijing area, took place today." I would imagine EFGO would have to have someone with a great reputation to arrange a meeting with a bank like this... hmmmm, Jack Chang perhaps? I know we keep saying it, but the acquisition of Jack Chang by EFGO was huge and the main reason I own shares of EFGO.
Worldwide EFT targeting countries like China, Russia and West Africa is smart and in the right place at the right time...in on the ground floor and leading the way. I like it!
Hi everyone, it has been a while since I've posted. Haven't had much free time lately. The PRs are getting very interesting and I'm looking forward to an update about China.
There have been so many posts to read it has been difficult to keep up! I was reading the Union Bank PR again and have been doing a little more research. Maybe other members of the board have already covered this, but I thought it was worth mentioning.
From the PR http://allafrica.com/stories/200705280217.html, Jack Chang is the lead consultant of the consortium that the Union Bank of Nigeria signed on. Another member of the consortium is ElectraCard Services (ECS) http://www.electracard.com which is a subsidiary of Opus Software Solutions http://www.opussoft.com/main.htm.
Opus and Electra have a big presence in India, Asia and now are part of the consortium with EFGO in West Africa... with Jack Chang as the lead consultant.
Take a look at the Opus and Electra websites and read the press releases. It will be interesting to see if Jack Chang and EFGO build any direct relationships with Electra and Opus in the future because of their contact in West Africa... Just speculation on my part. I feel the connections and associations that Jack Chang has in the ATM, Debit and EFT world will continue to amaze us as more associations are forged and partnerships are revealed.
To me, the Union Bank of Nigeria consortium is exciting, because if the group is successful there, they may continue to expand into other countries where some members of the consortium are already doing business.... like India. Just a thought.
Good night everyone. Looking forward to the future.
After reading the report I would have to agree. I really like this company and all they have in the works, but unfortunately at times they make and repeat little mistakes that frustrate me. Cut and paste seems like a correct phrase.
For example in their EM2 section at http://www.espritfinancialgroup.com/EM2.html they still have Jack Chang as Jack Change.... and they did it again in their Q1 Report under the Advanced Electronic Funds Management Division "Jack Change, the founder and president of...."
Maybe I'm a little overly sensitive to the importance of Jack Chang to this company, but the least they could do is spell his name correctly.
I think the Q1 report was a quick summary and it didn't seem as complete as it could have been. I'll wait and see what develops with the guidance they mentioned.
Again, I hold a lot of shares in this company and I want them to succeed. Time will tell on how this all plays out.
Hi Bill... I was out all day and just saw your post. I'm so glad that you are doing better. I was very concerned about the infection that affected you. Tell Margaret "Thank you for keeping us informed." Glad that you are feeling well enough to post.
Looking forward to seeing what EFGO posts on the Town Hall tonight. I hope it is will move us to the next level.
Take care and I'm so relieved that you are recovering.
OT: Congrats on your DNDN. I played it earlier but didn't get in this time around. Our mutual friend (Brad) is invaluable.
I for one like honest posts, even if they aren't popular. We have to remember that lots of other forces and players are involved and it never hurts to ask questions and do your own research.
Like you stated, EFGO has a lot of irons in the fire, and the potential is there but it won't happen overnight.
Have a nice weekend.
Lots of other companies offer stored value cards, smart cards, debit cards and EM2 services. The advantage that EFGO has is Jack Chang and he heads up the AEFM Division. That is one of the main reasons that I'm a shareholder of EFGO. No other company has Jack Chang and his knowledge, reputation and connections.
Everyone have a nice weekend!
Brian... that is very good news about Bill. Glad to see that he is responding and talking. Thank you for the information.
Great post... I hadn't seen it yet. I also liked the news from CCS that was posted on the board about the Union Bank of Nigeria project. We knew getting Jack Chang on board with EFGO was huge and now we are seeing the early results! Thanks for posting it.
Brian, thanks for the update on Bill. I'm very sad to hear of his worsening condition and I hope the next news from Margaret is that he is doing better. My thoughts are with Bill and his family.
Chud... thanks for letting us know about the condition of Bill. I'm very sorry to hear of his setback. That vehicle accident was terrible and it just reminds me of how quickly your life can change. My thoughts are with Bill and his family. Please keep us informed of his status. Thanks.
Here is an interesting article about Banking in the New Millenium.
Link: http://72.14.253.104/search?q=cache:p9L44Y7R4KIJ:www.icfaiuniversitypress.org/Books/Banking%2520in%2...
For those that are interested. EFGO talked about utilizing an open loop payment system. Here is a little research about the topic.
Link: http://72.14.253.104/search?q=cache:gi47lCfodhEJ:www.enst.fr/_data/files/docs/id_662_1170014823_271....
The introduction provides some good information. If you are into formulas take a look at the rest of the paper.
Obviously, EFGO feels there is an advantage to the open loop payment system.
I do believe that EFGO being on the Bank of California website was because of the news feed. Like you, I'm very curious about who the Visa issuer is.... Lots of good things are happening.
With all the revenue streams they are putting into place you never know what they are going to announce next! One day we all talk about Forex, the next week it is Cashnext, then it is Jack Chang and the electronic money division. What is it going to be next????
People on this board have been doing some very good DD. We thought there might be a Credit Card Soulutions (CCS) and EFGO connection when we saw Jack Chang was an advisor to CCS several months ago and now we see there is and it was confirmed in a PR. The company knows we are watching closely and they continue to follow through.
Brian... take a look at my post #44514 and let me know what you think.
Just a quick comment... I'm not sure that it is accurate that the bank has efgo on their watchlist. It looks to me that they just picked up the PRnewswire feed under their commercial news headline like at this link:
http://www.uboc.com/commercial/main/0,,2485_4082,00.html
Any other thoughts?
Here is an interesting link to Technology Groups Federal Credit Union and the Cash Now ATM Card.
http://72.14.205.104/search?q=cache:hOJ9zOLuMqAJ:www.tgfcu.org/www/atm.asp+visa+%22cash+now+card%22&...
I think your list looks good. There are several board memebers that would be good assistants. I agree that Nathanial would be a good person to add to the list of candidates if he is interested.
Hey MNM... just got home and saw that you are now the moderator! That is great. I saw that Rigmedic was getting too busy. He did a great job and I'm confident that you will do a great job also. Congratulations!
Yes... it is showing accurate there. Well, off to a meeting! Everyone have a good day.
Yes, I realize that. The Ameritrade streamer is usually off, but their actual quote/bid/ask is box is usually accurate and that is what I'm looking at. This is the first time I remember it being off for such a long time. It is still at 5x8.
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